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NSW Power of Attorney – 5 changes to the law

NSW Power of Attorney changes under the Power of Attorney Regulation 2016 on 1 September 2016. What are the NSW Power of Attorney changes? Any NSW Power of Attorney built, after 1 September 2016, using the old rules will not work. The 5 major changes are: 1. Restructuring how the appointment […]

Which is safer for a company: Company Constitution or Replacement Rules?

Company Constitution vs Replaceable Rules? Which is better. Either can govern your company. Your company must have a set of rules. The rules are either in: a Constitution – document that you get when you build your Company; or failing that Replacement Rules – which are set out in the […]

Can you offer ‘free’ SMSF setup? ASIC attacks SMSF promotor

&nbsp ASIC attacks SMSF promotor, but is it fair? Good old ASIC has successfully applied a penalty on a business seeking to set up your SMSF for ‘free’ – but then charging you $1,100 per year. The ASIC $10,800 slap on the arm is because the advertising of ‘free’ potentially misleads […]

The ‘Curse’ of the homemade Will

The ‘Curse’ of the homemade Will “On numerous occasions when dealing with a so-called homemade Will, I have observed they are a curse. A homemade Will which utilises what is sometimes known as a ‘Will kit’ is not much better. This case proves the point….” Master Sanderson, Rogers v Rogers […]

SMSF Unit Trust buys a necklace for wife – now what?

.  SMSF Unit Trust buys a necklace for wife – now what? SMSF Unit Trust. Do you operate a Unit Trust where your Self-Managed Superannuation Fund owns some or all the units? If so you have a ‘related unit trust’. A related unit trust is an SMSF unit trust. An SMSF […]

Go bankrupt lose Super? Bankrupt widow keeps Super

Go bankrupt lose Super? Bankrupt lose Super. But isn’t Superannuation protected from bankrupcty? The 3 common safe havens to protect assets from insolvency are: ‘Clean skin’ Family Trusts (eg, doesn’t employ people) Low-risk spouse (eg. spouse is a school teacher) Superannuation With huge wealth moving into Super the Trustee-in-Bankruptcy has its […]

Introduction for Dr Brett Davies’ presentation

Introductory note for Dr Brett Davies’ presentation ——————————————————————————————————————— Adjunct Professor, Dr Brett Davies Adjunct Professor, Dr Brett Davies is the tax partner of the national practice Legal Consolidated Barristers & Solicitors. They are Australia’s only law firm providing legal documents online. Brett is Adjunct Professor at the Curtin Business & […]

SMSF Borrowings. ATO Safe Harbour & Mortgages

We prepare SMSF borrowing gearing documents complying with the ATO ‘safe harbour’ SMSF borrowing is common. We provide documents for SMSF borrowing where the:   1. Lender is the Bank 2. Lender is a related party 3. existing SMSF loan is being updated 1. Lender is the Bank SMSF borrowing where an Australian […]